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US natural gas storage volume rises as prices dive

US natural gas storage volume rises as prices dive

Mubasher: Energy Information Administration (EIA) said on Thursday that the US natural gas stockpiles climbed by 39 billion cubic feet (Bcf) in the week ended 9 November to a total of 3,247 Bcf.

Stockpiles were 528 Bcf less than last year’s figure, while they were 601 Bcf below the five-year average of 3,848 Bcf, according to the EIA data.

Following the release of the data, Nymex natural gas futures plunged 10.81% to $4.31 per million British thermal units (MMBtu).